New Issue: JPMorgan prices $25 million fixed-to-floaters with 3.75% initial rate

By Jennifer Chiou

New York, Aug. 30 - JPMorgan Chase & Co. priced $25 million of fixed-to-floating-rate notes due Aug. 30, 2021, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 3.75% for the first two years. Beginning on Aug. 30, 2013, the interest rate will be Libor plus 150 basis points, up to a maximum rate of 8%. Interest is payable quarterly.

The payout at maturity will be par.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase & Co.
Issue:	Fixed-to-floating-rate notes
Amount:	$25 million
Maturity:	Aug. 30, 2021
Coupon:	Initially 3.75%; beginning on Aug. 30, 2013, Libor plus 150 bps, subject to cap of 8%; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	Aug. 26
Settlement date:	Aug. 30
Agent:	J.P. Morgan Securities LLC
Fees:	1%
Cusip:	48125XW77

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